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Day: August 5, 2013
August 52013
Another Week of Weakness for Aussie?
The Australian dollar fell sharply last week, touching the lowest level in 3 years against its US counterpart. Will the slide continue or the currency has found its bottom? Tomorrow’s meeting of Australian policy makers may give an answer to this question. The Aussie (as the Australian currency is nicknamed) started this week poorly. There will be several important events over the week and some of them promise even more […]
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August 52013
US Dollar Trims Declines on Better Economic News
US dollar is paring some of its earlier losses against some of its counterparts on the latest economic news to be released. Many Forex traders are looking for direction, and taking this opportunity to mull the latest news from around the world. Greenback was lower earlier, but it is trimming its recent declines right now. Indeed, the US dollar is higher against the euro and the loonie, even as it […]
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August 52013
Euro Falls on Retail Sales Data
Euro is lower today, in spite of recent indications of stability, on the latest of retail sales data. Even though there are hopes that the economic contraction is over for the eurozone, there are still concerns about a slow recovery. The latest retail sales data is sending the euro down against its major counter parts today. Eurostat is reporting that June retail sales were down 0.5 per […]
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August 52013
Aussie Soft Ahead of RBA Meeting as Retail Sales Trail Forecast
The Australian dollar was soft today ahead of tomorrow’s Reserve Bank of Australia policy meeting as retail sales trailed forecasts, adding to speculations that the central bank will cut interest rates. Most analysts believe that the RBA will maintain borrowing costs stable, but some market participants bet that the central bank will perform a rate cut. Retail sales were unchanged in June on a seasonally adjusted basis, […]
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August 52013
NZ Dollar Opens Sharply Lower as China Bans Imports from Fonterra
The New Zealand dollar was rising today, but this should not deceive traders as the currency opened sharply lower after China and Russia banned imports of milk powder from Fonterra Cooperative Group Ltd. Fonterra reported on the weekend that a rare bacteria that may cause botulism was found in a whey protein made at a New Zealand plant last year. This announcement caused bans of Fonterra products in China […]
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